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Spain's Cellnex Telecom buys Bouygues towers

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Spain's Cellnex Telecom buys Bouygues towers

Spain's CellnexTelecom is acquiring 230 towers from Bouygues Telecom for €80 million, marking its firstforay into the French market.

Cellnex has also inked a 20-year agreement to provideservices to Bouygues as part of the deal, which will be funded through existingcredit lines. Cellnex said July 11 that the deal will strengthen its presencein the European market and help address the challenges of 4G and 5G standards.

Under a second phase of the deal which is currently beingnegotiated, Cellnex could increase the number of its acquired tower assets fromBouygues up to 500.